The Budget has some progressive announcements that will boost demand for domestic metals sector, Anjani Kumar Agrawal, Partner and Leader Metals and Mining, EY India said. "Reduction of BCD (basic customs duty) on LNG and nickel shall help improve margins of specific consumers like gas based captive power plants and stainless steel producers," he said. Through imposition of export duty on 'other aluminium ores' the alumina producers have been supported on domestic resource security, he said. However, reduction of BCD on inputs coils for CRGO steel and steel welded pipes, while supporting downstream users, may cap cost pass-through by the domestic steel producers, he said. (This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)

Source: dna February 01, 2017 14:18 UTC